The ruling by U.S. District Judge Analisa Torres was the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission -- though it did also give the SEC a partial victory.
Nearly after 3years, after the securities and exchange commission filed a law suit against XRP popularly know as ripple, A judgment was finally passed yesterday in the favour of the crypto firm, which confirm that its sales is not a security.
After the lawsuit, we've seen xrp to have undergone some pump in price, after hitting a $0.93 price within a 24hrs period, which has being the all time high since december 2021. Though, the current price was at 80cent, as at the time of writing this post. This actually gives it more tendency to reaching the $1 price.
Recent Reactions From Others
After the recent victory, so many crypto enthusiast has reacted to the current happenings. Which some even suggesting that the suit on other firms might just be another plain drama, that is n't necessary.
Coinbase, which was the first exchange to delist xrp, is seen to be the first to relist it back. They confirmed the relisting via their twitter page.
W.
W for.
W for the industry.
W for the builders.
W for a clear rulebook.
W for updating the system.
Oh, and XRP is now open for trading.
And another exchange, Gemini is currently exploring the listing of xrp.
I guess ripple stands a chance of making a huge impact in price, in the next bull market.
Thanks for reading, what are your thought about the recent development?
Note that the images without link where actually screenshots made by me.